Job Description
Description:
The Bank Secrecy Act (BSA) Specialist will prevent money laundering at the money source and be responsible for assisting the BSA Officer with compliance monitoring reviews and other special projects to measure and understand the state of regulatory compliance for the organization. As criminal activity is suspected, the BSA Specialist will start the investigation process by creating a case file and working with the BSA Officer to further investigate the customer and their actions. This may include investigating and identifying activity for possible Suspicious Activity Report (SAR) filings; researching and determining if a SAR should be filed; ensuring all required filings, reports, reviews, and duties are completed and submitted timely; and meeting all regulatory guidelines. The BSA Specialist will provide investigative support regarding possible Suspicious Activity Report (SAR)/Currency Transaction Report (CTR) and provide research, guidance and determination for OFAC clearing items related to consumer and business transactions or other BSA requirements
PRINCIPAL DUTIES AND RESPONSIBILITIES
1. Assist with the alert workload and the monitoring for suspicious patterns/activity and fraud, conduct
suspicious activity report investigations, as well as high risk customer/account reviews, and
recommend when to file and not file Suspicious Activity Reports (SARs). May assist in the filing of
SARs when n necessary.
2. Conduct enhanced due diligence reviews which entails research, the gathering of documents,
composing a well written narrative, making appropriate recommendations, and assigning appropriate
risk factors.
3. Perform 90-day SAR follow up reviews; recommending whether continuing activity SAR should be
completed.
4. Assist in the preparation and submission of all Currency Transaction Reports (CTRs) within the
regulatory deadline of 15 days.
5. Ensure proper identification and adherence to the Bank’s BSA Program including, but not limited to;
CIP, CDD/EDD/BO, OFAC and record keeping and retention requirements.
6. Ensure BSA files remain current, accurate, and well-documented.
7. Participate in ongoing training to maintain current knowledge of BSA/AML and OFAC regulatory
requirements.
8. Assist in the compliance of 314(a) and 314(b) responsibilities.
9. Monitor potential OFAC matches and take appropriate action to escalate them when necessary.
10. Other duties may be assigned by the BSA Officer.
11. Complies with federal and state regulations and all established bank policies and procedures.
OTHER RESPONSIBILITIES
• Support and promote the Bank vision, mission and core values, organizational structure and policies
and procedures.
• Must have excellent analysis, observation and decision-making skills.
• Individual should be able to work under high pressure situations and a stressful atmosphere and
should remain composed. • High degree of accuracy
• Strong organizational skills; able to manage priorities and workflow
• Ability to work independently and as a team member
• Able to communicate with people at all levels and various backgrounds
• Must be able to speak, read, write and understand the primary language(s) used in the workplace.
• Mental concentration is necessary for handling frequent interruptions and working in a fast-paced
environment
This job is not eligible for remote.
Requirements:• At least 1-2+ years BSA/AML/OFAC compliance
• Knowledge of BSA/OFAC/Fraud functions.
• Acknowledge and observe strict confidentiality requirements.
• Ability to research, collect, and analyze complex or diverse information.
• Positive interpersonal relationship skills.
• Critical thinking skills.
• Ability to work independently with a high level of initiative, and to research, and problem solve.
• Strong analytical, communication (oral and written), and personal computer skills.
• Basic knowledge of the organization’s various operating systems (Verafin & Fiserv Premier) a plus,
Or willingness to learn.
• Excellent decision making, analytical and investigative abilities with attention to detail and accuracy.
• Familiarity with Microsoft Office products
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